证券日报网讯2月13日，映翰通在互动平台回答投资者提问时表示，公司持续关注全球智能电网领域的 市场动态与发展机遇，结合行业趋势及自身发展战略稳步推进市场拓展工作，相关业务进展请以公司公 开披露信息为准。 ...

Core Viewpoint - The overall performance of central enterprises listed on A-shares is showing a multi-dimensional improvement for the year 2025, with over 110 companies expected to report positive earnings, including 23 companies turning losses into profits, 46 companies experiencing profit growth, and 41 companies significantly reducing their losses [1] Group 1: Companies Turning Losses into Profits - 23 central enterprises, including South Grid Energy, China Ordnance, and China Chengxin, are expected to turn losses into profits in 2025, indicating a significant improvement in operational conditions [2] - South Grid Energy is focusing on energy-saving services and biomass sectors, projecting a net profit of 300 million to 360 million yuan for 2025 [2] - Military enterprises like China Aerospace South Lake and China Ordnance are also expected to report profits due to increased delivery of special equipment and defense products [2] Group 2: Companies with Significant Profit Growth - A group of central enterprises, such as Salt Lake Co., Longxin Bochuang, and China Shipbuilding Defense, are expected to see substantial profit growth in 2025, with some companies projecting profit increases of over 300% [4] - China Shipbuilding Defense is benefiting from a booming global shipbuilding market, with a projected profit growth of 149.61% to 196.88% for 2025 [4] - Longxin Bochuang is experiencing revenue growth due to demand from cloud computing and artificial intelligence, with expected profit growth exceeding 300% [4] Group 3: Companies Reducing Losses - 41 central enterprises, including China First Heavy Industries and China Great Wall, are expected to significantly reduce their losses in 2025, indicating positive signals during their transformation periods [6] - China First Heavy Industries is expected to reduce losses by 3.276 billion to 3.426 billion yuan through structural reforms and asset optimization [6] - In the steel industry, companies like Maanshan Steel and Chongqing Iron and Steel are also expected to reduce losses amid ongoing market challenges [6] Group 4: Cost Control and Operational Efficiency - Many central enterprises are implementing refined measures such as cost control and investment optimization to improve their financial performance [3] - Companies like China Chengxin and Blue Science High-tech emphasize the importance of cost control and efficiency improvements in their earnings announcements [3] - In the chemical sector, China National Chemical is enhancing operational capabilities and controlling costs to mitigate revenue pressures while achieving significant loss reductions [7]

Core Viewpoint - The company is expanding its market presence in mainland China through both online and offline channels, aiming to increase market share and brand awareness [2]. Group 1: Online Sales Strategy - The company utilizes major e-commerce platforms such as JD.com, Tmall, and Taobao, along with its own official online store to broaden its online sales channels [2]. - The focus on online sales is part of a strategy to enhance market penetration and reach a wider consumer base [2]. Group 2: Offline Sales Strategy - The company collaborates with large supermarkets and distributors to promote its products and enhance brand visibility [2]. - It has opened offline brand stores in key business districts of first-tier cities like Shenzhen, Guangzhou, and Shanghai to facilitate direct sales to consumers [2]. Group 3: Future Plans - The company plans to continue strengthening its marketing efforts in mainland China and actively explore domestic online sales channels [2]. - There is an emphasis on expanding partnerships with local quality distributors to enhance cooperation [2].

Core Viewpoint - The company, Yinghantong, has a diversified business covering five major sectors: enterprise networks, digital energy, industrial and building IoT, smart commerce, and vehicle and transportation, with a strong focus on the digital energy sector, particularly in smart distribution networks [1] Group 1: Business Overview - The digital energy segment primarily focuses on smart distribution networks, where the company has over ten years of experience [1] - Core products and services include smart distribution network status monitoring systems, industrial IoT communication products, cable fault detection devices, smart distribution station monitoring systems, emergency power vehicle intelligent management systems, and grounding fault judgment terminals [1] - The company provides daily operation and maintenance, fault troubleshooting, and data analysis services for distribution automation equipment through its subsidiary [1] Group 2: Clientele and Revenue - The company has served multiple power clients, including State Grid and Southern Power Grid, covering various provinces across the country [1] - As of December 31, 2024, the digital energy segment achieved revenue of 162.5978 million, accounting for 26.58% of the company's total revenue [1] - The company plans to continue deepening the integration of technology and scenarios to seize opportunities in the power IoT industry [1]

证券代码：688080 证券简称：映翰通 公告编号：2026-001 北京映翰通网络技术股份有限公司 关于完成工商变更登记并换发营业执照的公告 本公司及董事会全体成员保证公告内容的真实、准确、完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 北京映翰通网络技术股份有限公司（以下简称"公司"）于 2025 年 11 月 4 日、2025 年 11 月 21 日分别召开第五届董事会第一次会议、2025 年第三次临时 股东会，审议通过了《关于变更公司注册资本并修订<公司章程>的议案》。具体 内容详见公司于 2025 年 11 月 5 日在上海证券交易所网站（www.sse.com.cn）披 露的《关于变更公司注册资本并修订<公司章程>的公告》（公告编号：2025-066）。 近日，公司已完成关于注册资本的工商变更登记及《公司章程》的备案手续， 并取得了由北京市朝阳区市场监督管理局换发的《营业执照》，变更后的工商登 记信息如下： 广告；商用密码产品的开发、生产及销售。(市场主体依法自主选择经营项目， 开展经营活动；依法须经批准的项目，经相关部门批准后依批准的内 ...

Investment Rating - The report maintains a "Recommended" rating for the industrial internet sector, indicating a positive outlook for the industry based on favorable fundamentals [4]. Core Insights - The industrial internet sector is experiencing a surge in policy support, which is expected to drive a comprehensive development framework and enhance quality and efficiency in the industry [1][7]. - Key policies include the "Artificial Intelligence + Manufacturing" initiative, which aims to establish 1,000 high-level industrial intelligent entities by 2027, and the "Action Plan for High-Quality Development of Industrial Internet Platforms (2026-2028)," targeting over 450 platforms and 1.2 billion connected industrial devices by 2028 [2][7]. - The report highlights that industrial communication companies are well-positioned to benefit from these policy incentives, leveraging differentiated technologies and scene advantages to support industrial upgrades [1][2]. Summary by Sections Policy Developments - Recent policies have established a framework for integrating AI with industrial internet platforms, focusing on enhancing the quality of industrial internet development and addressing existing challenges such as insufficient differentiation and application depth [7]. - The "Action Plan for AI and Industrial Internet Integration" emphasizes the need for network upgrades in at least 50,000 enterprises, promoting the commercialization of new industrial network technologies [2][7]. Company Highlights - Dongtu Technology is leading the development of international standards and has created a closed-loop ecosystem that aligns with policy directives for new industrial network upgrades, with its TSN and industrial 5G chips recognized in the new industrial network directory [2][8]. - Sanwang Communication focuses on industrial Ethernet and 5G hardware products, with its TSN switches also included in the directory, showcasing its competitive edge in the TSN and Ethernet-APL technology fields [2][8]. - Yinghantong provides cloud-based edge intelligence solutions that enable efficient local data processing and decision-making for industrial enterprises, supporting mainstream AI applications [3].

Core Viewpoint - The company, Yinghantong, anticipates that by the first half of 2025, overseas revenue will account for 51.80% of total revenue, with Europe being a key growth area [2] Group 1: Revenue and Market Expansion - The company is focusing on expanding its market presence in Europe, specifically in countries such as Germany, France, and the UK [2] - The product offerings include industrial IoT communication devices, vehicle gateways, and smart distribution network status monitoring systems [2] Group 2: Operational Strategy - A wholly-owned subsidiary in Germany is responsible for localized sales, technical support, and customer service within the EU region [2] - The company collaborates with third-party traders and agents to reach small and medium-sized clients and niche markets, ensuring diverse channel synergy for market coverage and response efficiency [2]

Core Viewpoint - The communication equipment sector experienced a mixed performance, with a slight overall increase of 0.88% on January 15, while the Shanghai Composite Index fell by 0.33% and the Shenzhen Component Index rose by 0.41% [1]. Group 1: Stock Performance - Shenyu Co., Ltd. led the gains in the communication equipment sector with a closing price of 42.62, reflecting a rise of 10.39% and a trading volume of 396,000 shares, amounting to a transaction value of 1.671 billion [1]. - Other notable performers included: - Sega Technology with a closing price of 39.50, up 10.00% [1]. - Shijia Photon with a closing price of 87.43, up 7.30% [1]. - Lian Te Technology with a closing price of 197.00, up 7.01% [1]. - Zhaolong Interconnect with a closing price of 57.55, up 6.67% [1]. Group 2: Declining Stocks - The sector also saw significant declines, with Guangha Communication dropping 17.15% to a closing price of 28.98 [2]. - Other stocks that faced losses included: - Fujida down 10.68% to 44.90 [2]. - Xinkemobile down 10.66% to 17.76 [2]. - Huanghuo Communication down 10.01% to 43.07 [2]. Group 3: Capital Flow - The communication equipment sector experienced a net outflow of 1.058 billion from institutional investors and 2.280 billion from retail investors, while retail investors saw a net inflow of 3.338 billion [2]. - The capital flow for specific stocks indicated: - Zhongji Xuchuang had a net inflow of 1.832 billion from institutional investors [3]. - Xinyi Sheng saw a net inflow of 1.208 billion [3]. - Shijia Photon had a net inflow of 516 million [3].

Core Viewpoint - On January 14, 2023, Yinghantong (688080) closed at 69.13 CNY, reaching the daily limit with a trading volume of 7.61 billion CNY and a turnover rate of 15.63% [1] Trading Activity - The stock was listed on the trading board due to a price increase of 15% at the close of the day [1] - The top five trading departments accounted for a total transaction of 167 million CNY, with a net buying amount of 20.85 million CNY [1] - The largest buying department was Goldman Sachs (China) Securities, with a purchase amount of 20.51 million CNY, followed closely by JPMorgan Securities (China) with 20.41 million CNY [1] - The leading selling department was also Goldman Sachs (China) Securities, with a selling amount of 17.71 million CNY [1] Fund Flow - The stock experienced a net inflow of 64.79 million CNY from major funds throughout the day [1]

Core Viewpoint - The article emphasizes that 2026 will be a pivotal year for China's commercial aerospace sector, transitioning from "quantitative change" to "qualitative change" due to policy support, technological breakthroughs, and capital market momentum [42][43]. Group 1: Market Performance and Trends - On the first trading day of 2026, A-shares experienced a strong opening, with the Shanghai Composite Index rising over 1% and the ChiNext Index increasing by more than 2% [2]. - The satellite industry ETF (159218) saw a significant increase of 3.78%, with a net inflow of 211 million shares, marking a new single-day high [5][18]. - The insurance sector also showed strong performance, with major companies reaching historical highs and total premium income in the insurance industry growing by 7.6% year-on-year [15][17]. Group 2: Commercial Aerospace Developments - The commercial aerospace sector is transitioning from "experimental exploration" to "industrial mass production," becoming a core engine for national competition and economic transformation [3][6]. - In 2025, the satellite internet sector entered a phase of accelerated networking and industrialization, with multiple commercial rocket launches planned [20][24]. - The number of satellite launches in 2026 is expected to increase significantly, with private commercial rocket companies playing a crucial role in meeting high-frequency launch demands [21][26]. Group 3: Investment Opportunities - The commercial aerospace sector is projected to have a compound annual growth rate of 17%, with the global brain-computer interface market expected to reach approximately $12.4 billion by 2034 [14]. - The article suggests that the satellite industry ETF (159218) is a stable and efficient investment tool, covering the entire satellite industry chain and focusing on companies with high revenue from satellite-related businesses [36][40]. - The anticipated breakthroughs in rocket manufacturing and the reduction of launch costs are expected to significantly boost downstream demand for commercial aerospace services [30][31]. Group 4: Challenges and Considerations - The commercial aerospace industry faces challenges such as high volatility and technical uncertainties, making direct investment in individual stocks risky for ordinary investors [34]. - The complexity of the industry supply chain, from materials to satellite applications, complicates the timing of investments [35].